Gandhinagar-based Kalpataru Power Transmission Ltd (KPTL)'s subsidiary Shree Shubham Logistics Ltd (SSLL) has signed an agreement with Tano India Private Equity Fund II to raise Rs 80 crore to fund its capacity expansion plan.
One of the leading organised service providers in the agri logistics space. It operates on unique combination of owned and managed warehouses, Currently, SSLL is operating and managing 90 warehouses with storage capacity of around 1.1 million metric tonnes and total floor plate area of around six million sq ft in state of Rajasthan, Gujarat and Madhya Pradesh.
The company will expand this capacity to 1.5 million metric tonnes by end of this year and to nearly two million metric tonnes over the next 2-3 years with a pan India presence. "Our subsidiary (SSLL) has emerged among the largest private player in agri-logistics sector providing one-stop solutions to the entire value chain in agriculture sector."
This fund infusion will support our capacity expansion plans in the state of Maharashtra, Rajasthan and Madhya Pradesh and other states of the country," said Manish Mohnot, Group Director, KPTL.
Talking about the agreement, Hetal Gandhi, MD of Tano India Advisors Ltd said, "We are excited to partner with SSLL which has followed a differentiated and scalable model in the agri-logistics space. After a substantial asset build-out in the last few years, the company is seeing increased levels of traction in its various businesses. It is backed by pedigreed promoters who have a track record of building companies which become leaders in the space in which they operate in."
SSLL is a subsidiary of the listed KPTL which is one of the largest and fastest growing specialised EPC companies in India engaged in power transmission and distribution, oil and gas pipeline, railways, infrastructure development and civil contracting with a strong international presence in power transmission and distribution.